A beachfront landholding in the coveted southern pocket of Scarborough Beach has hit the market.

1 June 2022

The twin-title lot at 194 The Esplanade and 5 Brighton Road occupies a prime north-west corner and offers uninterrupted views across the Indian Ocean and Brighton coastal reserve.

The site is within the state-government supported Scarborough Redevelopment Authority area and offers significant potential for high-density residential and mixed-use development under ā€˜Beach Front Precinct’ zoning.

CBRE’s Derek Barlow and Aaron Desange have been appointed to manage the sale campaign, with Expressions of Interest invited before June 29.

ā€œSites offering the opportunity for panoramic ocean views from the podium level of development – combined with the ability to step out onto the beachfront – are certainly rare, so we expect considerable interest given the current strength of the Perth premium apartment market,ā€ Mr Barlow said.

ā€œCapital values across Scarborough’s apartment market have risen even more sharply than in the Perth metropolitan region, with median unit values growing 15.2% over the past year.

ā€œGiven Scarborough’s attractive lifestyle drawcards and endless amenity, the area is expected to continue being a popular place to live, work and play.ā€

The lot features a 22m frontage on The Esplanade and a further 40m on Brighton Road, and is a stone’s throw from popular cafĆ©s, restaurants and bars.

ā€œAn asset of this nature, with tremendous development upside and situated on an iconic beachfront location, is set to generate great interest from investors looking to secure a part of the highly coveted, premium southern pocket of the Scarborough Beach precinct,ā€ Mr Desange added.